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ACCC gives coal miners bargaining power

By: Esmarie Iannucci Updated 5 hours ago The Australian Competition and Consumer Commission has granted the New South Wales Minerals Council and ten coal producers in the region interim authorization to negotiate with Port of Newcastle Operations (PNO) on terms and conditions of access to the port for coal exports, including prices.... →

Bolivia's largest mine suspends operations as virus controls tighten

By: Reuters 27th March 2020 Bolivia's San Cristóbal mine, a huge desposit of zinc, lead and silver, has suspended operations after the country imposed tough rules to halt the spread of coronavirus, its operator Minera San Cristóbal said in a statement on Friday. The company, a wholly-owned subsidiary of Japana's Sumitomo... →

Petra Diamonds suspends guidance, scales down operations

By: Marleny Arnoldi 27th March 2020 London-listed Petra Diamonds has, in accordance with what the Department of Minerals Resources and Energy expects from miners during South Africa’s 21-day lockdown period, scaled down its operations. The diamond miner advised on March 27 that it had scaled down operations to operate at a... →

Covid-19 to further weaken US coal demand in an already diminishing market

By: Marleny Arnoldi 27th March 2020 US domestic demand for thermal coal will fall during the second quarter of the year as individual states shut down much of the industrial economy to try and stem the spread of Covid-19. This is according to Moody’s Investors Service, which states that, in broader terms, the global economy will... →

Australian exports going strong, Covid-19 impact still looming

By: Esmarie Iannucci 18th March 2020 New data from the Office of the Chief Economist has shown that Australia’s resource and energy export earnings are forecast to set a record of A$299-billion in 2019-20, an increase of A$18-billion from 2018-19, while the effects of the COVID-19 virus would likely be felt by the resources sector... →

Death of coal financing is exaggerated as China steps up

By: Bloomberg 9th March 2020 Moves by some of the world’s biggest banks to end coal financing for the sake of the planet was supposed to create major headaches for companies like Whitehaven Coal. Yet there was the Australian miner on a conference call last month announcing the refinancing and extension of a A$1-billion... →

Solar power for mines under consideration – Assore

By: Martin Creamer 21st February 2020 A scoping study is under way into the self-generation of electricity for Assmang’s mines – but not its smelters, Assore CEO Charles Walters said on Friday, when the company reported interim results that were negatively affected by weaker chrome and manganese prices, and lower shipments of... →

Kumba pays out 92% of HEPS to shareholders as iron-ore prices lift earnings

By: Marleny Arnoldi 18th February 2020 JSE-listed miner Kumba Iron Ore delivered a payout ratio of 92% of headline earnings per share (HEPS) for the year ended December 31, exceeding its 50% to 75% dividend payout policy. The company declared a final cash dividend of R15.99 apiece, which, combined with the interim dividend of R30.79... →

Medallion stock up on inquiries from REE refineries

By: Creamer Media Reporter 11th February 2020 Vancouver-headquartered Medallion Resources’ stock received a boost on Monday, after the company announced that it had received inquiries from several rare-earth element (REE) refineries interested in receiving specifications and potential volumes of the its REE concentrate product. These... →

Zambia assures mines of power as supply deal deadline looms

By: Bloomberg 7th February 2020 Copper mines in Zambia, Africa’s second-biggest producer of the metal, will have continuous electricity even if a supply deal lapses next month with no agreement to replace it, Energy Minister Matthew Nkhuwa said. Most producers, including the local unit of Glencore, buy power from Copperbelt... →

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